Global Membrane Electrode Assemblies Market growing at a CAGR of 15.2% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Aug 2023
Key Market Overview
Consegic Business Intelligence analyzes that the membrane electrode assemblies market is predicted to grow at a compound annual growth rate of 15.2% from 2023 to 2030 and is expected to reach USD 1,257.91 million in 2030 which was valued at USD 408.00 million in 2022.
The report highlights the increasing adoption of membrane electrode assemblies in electrolyzers, which is augmenting global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the membrane electrode assemblies market.
Global Membrane Electrode Assemblies Market By Overview
The membrane electrode assemblies market is bifurcated into product type and application. Based on product type, the market is segmented into 3-Layer membrane electrode assemblies, 5-layer membrane electrode assemblies, and others. In 2022, the 3-layer membrane electrode assemblies segment dominate in the overall membrane electrode assemblies market. The application segment is categorized into electrolyzers, polymer electrolyte fuel cells, hydrogen/oxygen air fuel cells, direct methanol fuel cells, and others. In 2022, the electrolyzers segment accounted for the highest market share in the membrane electrode assemblies market.
Get Free SampleMarket Dynamics
Driver:
- The increasing adoption of membrane electrode assemblies in electrolyzers is bolstering market growth.
- Increasing demand for polymer electrolyte fuel cells is supplementing the growth of the global membrane electrode assemblies market.
Restraints:
- Higher technology cost and limited infrastructure is restraining membrane electrode assemblies market growth at the global level.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | 3-Layer Membrane Electrode Assemblies, 5-Layer Membrane Electrode Assemblies, and Others |
| By Application | Electrolyzers, Polymer Electrolyte Fuel Cells, Hydrogen/Oxygen Air Fuel Cells, Direct Methanol Fuel Cells, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Ballard Power Systems Inc., Giner Inc., Greenerity GmbH, and HyPlat (Pty) Ltd. which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the membrane electrode assemblies market is expected to witness substantial growth in the coming years due to the increasing development of new electrolyzer manufacturing facilities in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Ballard Power Systems Inc.
- Giner Inc.
- Greenerity GmbH
- HyPlat (Pty) Ltd.
- IRD Fuel Cell Technology A/S
- Johnson Matthey Plc
- 3M
- L. Gore & Associates, Inc.
- Wuhan WUT New Energy Co., Ltd.
- FuelCellsEtc